TIDMVLX

RNS Number : 7765B

Volex PLC

15 February 2022

Volex plc

("Volex" or the "Company")

Director/PDMR Dealings

Exercise of options

Volex plc (AIM:VLX) announces that it was notified on Monday 14 February 2022 that the following directors/persons discharging managerial responsibilities ('PDMRs') had exercised the following awards over (in aggregate) 1,080,000 ordinary shares in the capital of the Company granted to them under the Volex plc Performance Share Plan in FY2018 and FY2019 respectively (the 'PSP Awards'). The awards have an exercise price of 25p per share. Details of the exercised PSP Awards are summarised below:

 
 PDMR             Number of Shares   Financial Year of 
                                      Grant 
 Nat Rothschild   340,000            FY2019 
                 -----------------  ------------------ 
 John Molloy      340,000            FY2019 
                 -----------------  ------------------ 
 John Molloy      400,000            FY2018 
                 -----------------  ------------------ 
 

The PSP Awards will be satisfied using existing shares purchased in the market by the trustee of the Company's employee benefit trust.

Grant of options

Volex also announces that it was notified on Tuesday 15 February 2022 that the following directors/PDMRs were granted the following nil-cost awards ('the LTIP Awards') over ordinary shares in the capital of the Company (the 'Shares') under the Company's Long Term Incentive Plan.

 
 PDMR              Type of Award      Number of Shares 
 Nat Rothschild    Nil-cost option    142,500 
                  -----------------  ----------------- 
 John Molloy       Nil-cost option    132,500 
                  -----------------  ----------------- 
 Jon Boaden        Nil-cost option    82,500 
                  -----------------  ----------------- 
 

In the ordinary course, the LTIP Awards will vest and become exercisable on 7 December 2024, subject to the PDMRs continuing employment with the Company and the satisfaction of TSR performance conditions measured over FY22, FY23 and FY24. If certain stretching conditions are met an absolute TSR performance multiplier will also apply, whereby if the Company achieves 100% growth in absolute TSR over the three year vesting period a multiplier of up to 2.5x will be applied to the Awards. Following vesting, the Shares will be subject to a two-year holding period (net of tax).

This announcement is made in accordance with Article 19 of the UK version of the EU Market Abuse Regulation 596/2014 which has effect in English law by virtue of the European Union (Withdrawal) Act 2018.

 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                Nat Rothschild 
     ================================== 
 2    Reason for the notification 
 a)   Position/status                     PDMR, Executive Chairman 
     ================================== 
 b)   Initial notification                Initial Notification 
       /Amendment 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                                Volex PLC 
 b)   LEI                                 213800HBLQNH5FXXGE63 
     ================================== 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
 a)   Description of                      Ordinary Shares of 25 pence each 
       the financial 
       instrument, type 
       of instrument 
       Identification 
       code 
     ================================== 
 b)   Nature of the                       Exercise of awards under the Volex plc 
       transaction                         Performance Share Plan 
 c)   Price(s) and                                Price(s)             Volume(s) 
       volume(s) 
                                                25p per share           340,000 
     ==================================  ========================= 
 d)   Aggregated information 
       - Aggregated 
       volume                               N/A - single transaction 
       - Price 
 e)   Date of the transaction             14 February 2022 
     ================================== 
 f)   Place of the                        Outside a trading venue 
       transaction 
===  ==================================  ========================================= 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                John Molloy 
     ================================== 
 2    Reason for the notification 
 a)   Position/status                     PDMR, Chief Operating Officer 
     ================================== 
 b)   Initial notification                Initial Notification 
       /Amendment 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                                Volex PLC 
 b)   LEI                                 213800HBLQNH5FXXGE63 
     ================================== 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
 a)   Description of                      Ordinary Shares of 25 pence each 
       the financial 
       instrument, type 
       of instrument 
       Identification 
       code 
     ================================== 
 b)   Nature of the                       Exercise of awards under the Volex plc 
       transaction                         Performance Share Plans 
 c)   Price(s) and                                Price(s)             Volume(s) 
       volume(s) 
                                                25p per share           740,000 
     ==================================  ========================= 
 d)   Aggregated information 
       - Aggregated 
       volume                               N/A - single transaction 
       - Price 
 e)   Date of the transaction             14 February 2022 
     ================================== 
 f)   Place of the                        Outside a trading venue 
       transaction 
===  ==================================  ========================================= 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                     Nat Rothschild 
 2    Reason for the notification 
 a)   Position/status                          PDMR, Executive Chairman 
 b)   Initial notification                     Initial Notification 
       /Amendment 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                                     Volex PLC 
 b)   LEI                                      213800HBLQNH5FXXGE63 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
 a)   Description of                           Ordinary Shares of 25 pence each 
       the financial 
       instrument, type 
       of instrument 
       Identification 
       code 
 b)   Nature of the                            Grant of awards under the Volex plc Long 
       transaction                              Term Incentive Plan 
 c)   Price(s) and                                  Price(s)              Volume(s) 
       volume(s) 
                                                      GBPnil                142,500 
 d)   Aggregated information 
       - Aggregated 
       volume                                    N/A - single transaction 
       - Price 
 e)   Date of the transaction                  15 February 2022 
 f)   Place of the                             Outside a trading venue 
       transaction 
===  =======================================  =========================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                     John Molloy 
 2    Reason for the notification 
 a)   Position/status                          PDMR, Chief Operating Officer 
 b)   Initial notification                     Initial Notification 
       /Amendment 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                                     Volex PLC 
 b)   LEI                                      213800HBLQNH5FXXGE63 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
 a)   Description of                           Ordinary Shares of 25 pence each 
       the financial 
       instrument, type 
       of instrument 
       Identification 
       code 
 b)   Nature of the                            Grant of awards under the Volex plc Long 
       transaction                              Term Incentive Plan 
 c)   Price(s) and                                  Price(s)              Volume(s) 
       volume(s) 
                                                      GBPnil                132,500 
 d)   Aggregated information 
       - Aggregated 
       volume                                    N/A - single transaction 
       - Price 
 e)   Date of the transaction                  15 February 2022 
 f)   Place of the                             Outside a trading venue 
       transaction 
===  =======================================  =========================================== 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                     Jon Boaden 
 2    Reason for the notification 
 a)   Position/status                          PDMR, Chief Financial Officer 
 b)   Initial notification                     Initial Notification 
       /Amendment 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
 a)   Name                                     Volex PLC 
 b)   LEI                                      213800HBLQNH5FXXGE63 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
 a)   Description of                           Ordinary Shares of 25 pence each 
       the financial 
       instrument, type 
       of instrument 
       Identification 
       code 
 b)   Nature of the                            Grant of awards under the Volex plc Long 
       transaction                              Term Incentive Plan 
 c)   Price(s) and                                  Price(s)              Volume(s) 
       volume(s) 
                                                      GBPnil                82,500 
 d)   Aggregated information 
       - Aggregated 
       volume                                    N/A - single transaction 
       - Price 
 e)   Date of the transaction                  15 February 2022 
 f)   Place of the                             Outside a trading venue 
       transaction 
===  =======================================  =========================================== 
 

For further information please contact:

 
                                             +44 (0)7971 156 
 Volex plc                                    431 
 Nat Rothschild, Executive Chairman 
 Jon Boaden, Chief Financial Officer 
 Christian Bedford, Group General Counsel 
  and Company Secretary 
 
 
 Singer Capital Markets - Nominated Adviser    +44 (0)20 7496 
  & Joint Broker                                3000 
 Shaun Dobson 
 George Tzimas 
 
 
                                 +44 (0)20 7991 
 HSBC Bank plc - Joint Broker     8888 
 Simon Alexander 
 Joe Weaving 
 
 
                                   +44 (0)20 7250 
 Powerscourt - Media Enquiries      1446 
 James White 
 Ollie Head 
 

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February 15, 2022 10:59 ET (15:59 GMT)

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